The following information relates to Wildhorse Kitchen Ltd's inventory transactions during the month of March. Mar. 1 7 12 18 27 Beginning inventory 16 Purchase 29 Sale Purchase Sale Purchase Sale Units Cost/Unit $18.00 9,600 6,400 4,000 1,280 4,000 6,400 5,600 All of the units sold were priced at $65 per unit. $19.80 $19.80 Amount $172,800 $79,200 $25,344 $25.00 $160,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information relates to Wildhorse Kitchen Ltd.'s inventory transactions during the month of March.
Mar. 1 Beginning inventory
7
12
16
18
27
29
Sale
Purchase
Purchase
Sale
Purchase
Sale
Units
9,600
6,400
4,000
1,280
4,000
6,400
5,600
All of the units sold were priced at $65 per unit.
Cost/Unit
$18.00
$19.80
$19.80
Amount
$172,800
$79,200
$25,344
$25.00 $160,000
Transcribed Image Text:The following information relates to Wildhorse Kitchen Ltd.'s inventory transactions during the month of March. Mar. 1 Beginning inventory 7 12 16 18 27 29 Sale Purchase Purchase Sale Purchase Sale Units 9,600 6,400 4,000 1,280 4,000 6,400 5,600 All of the units sold were priced at $65 per unit. Cost/Unit $18.00 $19.80 $19.80 Amount $172,800 $79,200 $25,344 $25.00 $160,000
(a2)
Wildhorse Kitchen Ltd. uses the perpetual inventory system.
Calculate Wildhorse Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using weighted-
average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to O decimal places, e.g. 61,052.)
Cost of goods sold $
Gross margin
Ending inventory
LA
Transcribed Image Text:(a2) Wildhorse Kitchen Ltd. uses the perpetual inventory system. Calculate Wildhorse Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using weighted- average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to O decimal places, e.g. 61,052.) Cost of goods sold $ Gross margin Ending inventory LA
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